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BorgWarner profit misses consensus by 19.3% in Q2

BorgWarner Inc. said its second-quarter normalized net income amounted to 67 cents per share, compared with the S&P Capital IQ consensus estimate of 83 cents per share.

EPS decreased 13.6% year over year from 77 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $151.6 million, a decline of 14.8% from $177.9 million in the year-earlier period.

The normalized profit margin fell to 7.5% from 8.1% in the year-earlier period.

Total revenue fell 7.5% on an annual basis to $2.03 billion from $2.20 billion, and total operating expenses fell 6.9% year over year to $1.77 billion from $1.90 billion.

Reported net income fell 22.7% from the prior-year period to $147.3 million, or 65 cents per share, from $190.6 million, or 83 cents per share.